Tesla acquires solar company SolarCity for $ 2.6 billion

Aug

1

2016

US electric car maker Tesla announced Tesla on Monday announced the acquisition of a solar energy company Solar City SolarCity compared with $ 2.6 billion in cash.

The hopes of both companies, which are founded by the famous pioneer Elon Musk business, in that the acquisition will help them to expand the production of batteries and solar energy processes, as Tesla describes the joint venture as “a sustainable energy company the only vertically integrated in the world.”

Says Tesla The acquisition of Solar City will be allowed to create “products (electric) residential, commercial, public fully integrated” to generate, store and distribute solar energy.

It is noteworthy that the electric carmaker had offered the acquisition of Solar City initially in the month of June last part of the “secret master plan” developed by its chief executive Mask created.

And provide a long-term road map, a blueprint for an ambitious and broad future of the company, covering the plans to create a “spectacular solar roofs with integrated battery storage smoothly”, as well as expand the range Tesla for electric vehicles to include public transportation systems and heavy duty trucks.

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